Pricing Division

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ProSpect - Detailed Commercial Property Report

Property Insurance Association of Louisiana is now offering ProSpect - Detailed Commercial Property Report. ProsPect is a valuable tool that contains important underwriting information. The report is based on a physical visit by one of our expert field inspectors. A report can be ordered on any location in Louisiana at no cost to our members and their representatives.

General Functions of the Pricing Department

Pricing Division personnel perform inspections of commercial buildings and property throughout the state to develop and publish equitable fire and windstorm rates and relevant information. Our database of buildings and property contains important underwriting information that is available to our Member Companies and their agents. This information is an important tool that assists underwriters in evaluating risks. Our field personnel are trained experts. They gather and measure fire and wind hazards for each inspection conducted.

  • Inspections: Establish and update insurance rates for individual properties throughout the state.
  • Building Plan Review: Review proposed building plans with recommendations to keep property insurance rates at a minimum.
  • Sprinkler Plan Review: Review automatic sprinkler plans in order to apply applicable fire insurance credit.
  • Tentative Rates: Provide estimated, tentative rates for proposed or unrated buildings.

Rating Schedules

PIAL utilizes two rating schedules for specifically rated properties: 1) the Louisiana Uniform Grading Schedule (UGS) and 2) the Restricted Schedule for Rating Sprinklered Risks (AS Schedule). These rating schedules give PIAL the ability to carefully evaluate properties to develop and publish fire insurance rates.


UGS Schedule

This schedule is used to specifically rate non-sprinklered properties that are not eligible for Class Rates. The schedule analyzes construction, occupancy, square footage, hazards, vertical openings, exposures from nearby properties, the ability of the fire department to access the property and other conditions. It also incorporates any applicable credits such as portable fire extinguishers and automatic fire alarm systems.


AS Schedule

This schedule is used to specifically rate properties that are equipped with automatic sprinkler systems. The schedule places the majority of its emphasis on the sprinkler system. The schedule analyzes: water supply availability and requirements, unsprinklered areas, susceptibility to freezing, sprinkler obstructions, alarm systems, vertical openings, maintenance issues and draft conditions. The schedule also incorporates the same items for non-sprinklered properties such as construction, occupancy, etc.


Class Rates

PIAL inspects properties eligible for Class Rates and publishes relative information including area, height, construction, protection class, Group II symbol and occupancy.


Personnel

The Pricing Division currently has nine field representatives. Each field representative has a territory consisting of several or many parishes. These territories are based on travel distances and the number of applications submitted for ratings. All areas of each territory are visited as needed. Rates should be published or updated within 45 days. In many cases, the rates are published much sooner.